PALO ALTO — A vast Palo Alto estate, described as a fusion of “old-world flair and modern technology,” has been sold for nearly $40 million by a tech luminary who is a former top executive at Facebook.
The huge residence involved in the eyebrow-raising transaction is located at 369 Churchill Ave. in what’s known as “Old Palo Alto,” according to a listing by DeLeon Realty, which arranged the recent property deal.
The 369 Churchill residence was bought for $39.99 million, according to Santa Clara County property records that were filed on July 1.
The mansion totals 11,000 square feet and sits atop 1.1 acres, the listing from DeLeon Realty states. The official listing price was right at $39.99 million in May of 2019, according to Socketsite.com, which tracks residential real estate.
The buyer operates through an affiliate called Diamond Apex, which is connected to out-of-state investors based in Nevada.
The seller, Owen Van Natta, is a long-time tech executive who once was chief operating officer and chief revenue officer at Facebook.
Prior to his stint at Facebook, Van Natta was an Amazon vice president. After his years at Facebook, Van Natta was chief executive officer at MySpace, and subsequently was an executive vice president with Zynga.
In 2013, Van Natta launched a tech investment firm called 415, which is based in San Francisco.
Van Natta bought 369 Churchill Ave. for $9 million in 2011, county property files show.
The Palo Alto mansion was completely renovated in 2017 by Van Natta, according to the DeLeon Realty listing. The residence now contains five bedrooms, seven full bathrooms, and three half bathrooms.
A perfect melding of old-world flair and modern technology makes this…a magnificent retreat in Palo Alto’s most prestigious neighborhood,” the DeLeon Realty listing stated.
The wide-ranging renovation was headed up by Northwall Builders and “nationally renowned” Ken Fulk Designs, according to the real estate agency. The cost of the upgrade wasn’t disclosed.
“A five-star lifestyle is achieved inside and out in dramatic gathering spaces, luxuriously outfitted master and secondary bedrooms, a showcase kitchen, and the latest in home automation,” the DeLeon Realty listing stated, in describing the overall experience of the Palo Alto estate.
This deal eclipses what was previously believed to the most expensive residential transaction ever in Palo Alto, a $30 million purchase of 1107 Cowper St. in the Silicon Valley suburb in 2017. WhatsApp co-founder Brian Acton bought the Cowper residence, along with several other homes on the same block.
It now appears the $40 million Churchill Avenue deal has jumped to the top of the hill for the most expensive residential sale in Palo Alto, one of the Bay Area’s tech hubs.
The original residence on the Churchill Avenue lot was built around 1917 and bears some resemblance to homes built in England during the Tudor era.
“This neo-English Tudor enjoys every conceivable amenity and contemporary convenience and is wonderfully suited for grand-scale entertaining,” the DeLeon Realty listing stated.